F&N’s full-year profit falls 6.4% as higher tax expenses offset sales growth

Beverage and publishing company Fraser and Neave (F&N) saw a drop in full-year profit after higher tax expenses offset growth in sales.

- Sue-Ann Tan

Net profit for the 12 months to Sept 30 fell 6.4 per cent to $141.3 million from $150.9 million a year earlier, the company said on Nov 12.

Profit before interest and tax rose 3.7 per cent to $308.1 million, driven by higher food and beverage (F&B) sales, as well as a more favourable commodity and currency environment, F&N said.

But after-tax profit declined 4 per cent to $210.4 million, due mainly to higher tax expenses arising from the expiry of a tax incentive at a subsidiary in Thailand.

The firm’s new chief executive Rahul Colaco, who took over from Mr Hui Choon Kit on Oct 1, said the company will continue to strengthen its brands, leverage digital and sustainability initiatives, and pursue opportunities that drive growth.

The directors have proposed a final dividend of four cents per share, bringing total dividends for financial year 2025 to 5.5 cents per share. This is unchanged from FY2024.